Business Encyclopedia

A

Accounting and Corporate Regulatory Authority (ACRA)
Audited Financial Statement
Annual General Meeting (AGM)
Annual Report (AR)
Articles of Association
Apostille

B

BizFile
Business Grants Portal
Business Profile

C

Central Provident Fund (CPF)
Certificate Of Residence (COR)
Common Reporting Standard
Common Seal
Companies Act (Cap. 50)
Company Constitution
Company Secretary
Company Stamp
CorpPass

D

Dependant’s Pass
Directors’ Resolution in Writing (DRIW)
Dividend
Dormant Company
Double Taxation Agreement (DTA)
Due Diligence

E

Electronic Register of Members (eROM)
Employment Pass (EP)
EntrePass
Enterprise Development Grant (EDG)
Estimated Chargeable Income (ECI)
Exempt Private Company (EPC)

F

Financial Year End (FYE)
Form C-S/ C
Form C-S (Lite)
Fund Accounting

G

Goods and Services Tax (GST)

H

Hedge Fund

I

Import/Export License
Income Tax
Initial Public Offering (IPO)
Inland Revenue Authority of Singapore (IRAS)
Intellectual Property Office of Singapore (IPOS)
Interim Dividend
IR21 Form

J

K

Know Your Customer (KYC)
Knowledge Capital

L

Letter of Consent (LOC)
Limited Liability Company (LLC)
Limited Liability Partnership (LLP)
Limited Partnership (LP)
Liquidation (Court Order/Compulsory)
Liquidation (Voluntary)
Long Term Visit Pass (LTVP)

M

Ministry of Manpower (MOM)
MTI

N

Nominee Director
Nominee Shareholder
National Registration Identity Card (NIRC)

O

P

Partnership
Personal Data Protection Act (PDPA)
Personalised Employment Pass (PEP)
Private limited company
Productivity Solutions Grant (PSG)
Permanent Resident (PR)

Q

Quickbook Accounting

R

Register of Charges
Register of Nominee Director
Register of Registrable Controllers (RORC)
Registered Office Address

S

S Pass
Share
Small Company
Sole Proprietor
Special Employment Credit
Sponsored Employment Pass
Striking Off

T

Trademark
Temporary Bridging Loan
Temporary Employment Credit (TEC)

U

UEN
Unaudited financial statement
Undischarged Bankrupt

V

Variable Capital Company (VCC)
Venture Capitalist (VC)

W

Wage Credit Scheme
Withholding Tax (Section 45)

X

XBRL
Xero

Y

Year of Assessment (YA)

Z

Zero Rated Supplies
Zero-rised Financial Statement

Dependant’s Pass (DP)

A Dependant’s Pass (DP) is a long-term visa for certain family members of Employment Pass (EP), S Pass, and EnterPass holders. The pass is valid for as long as the main pass holder’s pass is valid or up to the duration requested, whichever is shorter. The DP can be applied only by the main pass holder’s employer or an appointed employment agency. It can also be renewed as and when the main pass holder’s pass is renewed.

Eligibility Criteria

The eligibility criteria for EP holders and S Pass holders to apply for a DP is as below:

  • Should be the legally married spouse or unmarried children under the age of 21 years, including legally adopted children.
  • The pass holder must earn a fixed monthly income of $6000.
  • The pass should be sponsored by the employer of the main pass holder.

The eligibility criteria for EntrePass holders are as below:

  • Can apply for their legally married spouse or unmarried children under 21 years old, including legally adopted children
  • The total annual business spending must be at least $100,000.
  • The company must appoint at least 3 LQS¹ or 1 local PME².

Notes:

  1. LQS (formerly known as FTE) refers to Singaporeans and Permanent Residents who earn a monthly salary of at least $1,400 and receive CPF contributions for at least 3 months.
  2. Local PMEs refer to professionals, managers, and executives who are Singaporeans or Permanent Residents, earn a monthly salary of at least $3,900 and receive CPF contributions for at least 3 months.

Can a Dependant’s Pass (DP) holder work in Singapore?

Yes, but they need an EP, S Pass, Work Permit, or EntrePass to work in Singapore. Once they get any of these passes, they need to cancel their DP. If a DP holder gets a Work Permit, the validity of the Work Permit would the same as that of the DP.